Blog Archive

Friday, June 25, 2010

Friday

Market recap:
Today's White Spinning Top creates a Bullish Harami. The Spinning Top indicates indecision and the Harami is a reversal pattern. The Harami is not a strong reversal pattern, but coupled with the way the forks have aligned I'm feeling quite certain a 10 to 15 point bounce can be expected on Monday.


Hourly:
MoneySpy appears to be peaking and the Oracle is bearish,
Hourly Ichimoku is bearish.
PPS is bullish and Price is above the 4/7MA
Price is Bullish within the 80% Standard Deviation Envelope.

Daily:
MoneySpy and the Oracle are bearish,
Ichimoku has a Bullish cross, but price is still below the MA's and the Kumo.
PPS is Bearish - and Price is below the 4/7MA
Price is back below the 200MA and the 255MA
Price is below the standard deviation envelope.
Monday's Persons Pivots are 1060/1076/1085
The Weekly Pivots are 1028/1092/1116.

In conclusion:
The 255MA at 1081 and the 200MA at 1112 have been influencing price. Indications are that the trend will remain down, but the confluence of the forks suggests to me that the high side of the green fork will be explored in the coming week
Fridays Daily Candle, supports that idea, and the
Weekly Candle stick (a Black Engulfing Candle Stick) supports the overall bearish down trend.

This chart below lays out a road map to what can be expected next week. The Yellow fork will lead price to the top of the Green fork where selling pressure from both the green and red forks will prevail.

Not shown is the Hourly Kumo at 1105. Should the top of the Kumo at 1109 be violated a reassessment will be required. Isn't that a great way to say, "at that point I will have screwed up"?

// _____________________________________________________________ //


1600 ET
Funny how such a nothing day
can prove to be so monumental.


I'll be back later today or over the weekend to do a proper recap.

15:20 ET
OK just like I said. We're bouncing off the 255 MA and now let's see where this Squeeze takes us. We are in an up trending fork. If Price breaks the bottom tine near the DDF line we should see a good break to the downside, but if it turns at this level and the upward fork stays in tact we are looking at 1090 SPX.


15:19

14:15 ET
Well the crash was a good thing. While redrawing my forks I discovered this relationship I had not seen before. Looks like today's bottom was always in the cards.




14:00 ET Oops my bad. Every thing was gone when i rebooted and the difference is the way I had extended sessions set.
Everything is back to normal ;-)
13:55 ET

Well it happened again. TOS displayed a bad rendering of the charts and indicators. This is just unbelievable. TOS crashed on me a few minutes ago. When I rebooted all my drawings were gone and now the Squeeze cloud looks nothing like the screen capture just below.




13:19 ET
Expect a volatile move very soon. MoneySpy and the Oracle are Bullish. Price has broken the handle. Target Top tine

Price at Persons Pivot and top of DDF. If this holds the move will be down.
Yes I know this contradicts the other signals. It's one of those market break points.
There's a good chance Price will bounce down hard off the 255 MA.

12:20 ET

The Oracle and MoneySpy have issued bullish signals.



10:30 ET


Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling contracts, equities or currency.

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